Mod Resources (LON:MOD) Coverage Initiated at Numis Securities

Numis Securities started coverage on shares of Mod Resources (LON:MOD) in a report issued on Thursday morning, LSE.Co.UK reports. The firm issued a buy rating and a GBX 36 ($0.47) price objective on the stock.

LON:MOD opened at GBX 17.50 ($0.23) on Thursday. Mod Resources has a fifty-two week low of GBX 12.92 ($0.17) and a fifty-two week high of GBX 24.47 ($0.32). The stock has a market capitalization of $40.51 million and a PE ratio of -13.46. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.02.

Mod Resources Company Profile

MOD Resources Limited engages in the exploration of copper and silver in Botswana. It also explores for gold in New Zealand. The company owns a 70% interest in the T3 project, which includes 18 licenses covering an area of approximately 8,002 square kilometers located in the Kalahari Copper Belt; and a 100% interest in the Mahumo project consisting of 8 prospecting licenses covering an area of approximately 3,516 square kilometers located in the Kalahari Copper Belt, Botswana.

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